The cost of international air travel among business travelers decreased 5 percent in the third quarter of 2012 as compared to the third quarter of last year, according to Travel Leaders Corporate's travel data for third quarter bookings.The cost of both an average international airline ticket and the cost per trip segment were down year-over-year.
“The decreasing cost of international airfare reflects what we’ve already reported quarter-to-quarter this year – specifically that demand continues to soften somewhat. This softening is due, at least in part, to the economic uncertainty in Europe,” said Travel Leaders Corporate President David Holyoke. “Domestic airfares remain relatively flat and our early projections are that those costs will increase slightly going into the first two quarters of 2013.”
The table below further illustrates Travel Leaders Corporate’s findings on international air travel based on actual bookings made in the third quarter of 2012. The average international average ticket cost was $1,622 for the 3rd quarter and the average cost per segment was $563.
The average cost of a domestic airline ticket increased approximately 3 percent in the third quarter of this year as compared to the third quarter of 2011 among business travelers. The average cost per segment was up 2 percent. Average domestic ticket costs were $412 and average cost per segment was $168.
Travel Leaders Corporate found the average cost per day of a car rental among its business travel clients continued to decrease – down in the third quarter of 2012 by 4 percent as compared to the same quarter in 2011. The average cost per rental booking was up roughly 12 percent.
“Despite consolidation in the car rental segment of our industry, the three major car companies remain very competitive with corporate pricing as daily rates trend downward,” Holyoke said. “It will be particularly interesting to see if further consolidation will reverse that long-standing trend. The good news for buyers is that we can continue to provide favorable discounted rates for our clients’ customers, saving them money for the car component of their trip.”
When comparing the average cost per night of a hotel room for both domestic and international business travelers, Travel Leaders Corporate’s data suggests domestic rates are flat year-over-year, with rates in the third quarter of 2012 within one dollar of the same quarter last year. International hotel rates continued to trend downward – with the average cost per night of a hotel room decreasing 6 percent in the third quarter of this year as compared to the same quarter in 2011.
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